Hints and tips to stay save money this Christmas

Want a memorable Christmas but do not want the pain of "financial holiday hangover" afterwards?

Here are some hints and tips to help you make your loved ones feel special, whilst also keeping pounds in your pocket this Christmas:

1.Set a budget and stick to it

Want a memorable Christmas but do not want the pain of "financial holiday hangover" afterwards?

Here are some hints and tips to help you make your loved ones feel special, whilst staying keeping pounds in your pocket this Christmas:

1.Set a budget and stick to it

At Christmas time it is easy to wander the aisles in many different stores buying bits and pieces that you just cannot resist. However, if you have not budgeted for this, you may be in for quite a shock when you count up your receipts and find out you have spent more than you intended come the New Year. Make a decision not to get into debt this Christmas, keep to your budget, know whom you are buying for and consistently check that you are keeping to the amount you have set and you will be well on your way to saving money this Christmas season.

2. Make a list of those whom you will be buying presents for

This might include, in-laws, aunts, uncles, nieces, nephews, grandparents, best friends, neighbours and work colleagues. Write down those you think you might be buying presents for so that you can budget accordingly and there are no nasty surprises when you forget someone. This will allow your to whittle down your list should you need to, in order to stick to your budget.

3. Make some homemade gifts

If your budget is tight and there are more people to buy presents for than you can afford, how about trying to make some homemade gifts. These could include:

Jam

Chutney

Fudge

Christmas themed Cupcakes

Gingerbread men

Shortbread biscuits

Clay Christmas decorations. Pinterest is great for ideas on this. Check this one out: http://www.pinterest.com/pin/111816003224299851/

Lavender in a flower pot wrapped with a special message – this is great for teachers and any female relatives.

Or, perhaps, you could make a hamper for a whole family unit rather than buying individual gifts? You could also buy some products in bulk from retailers such as Costco or Makro and divide them up to make individual gifts wrapped in cellophane and tied with ribbon. Homemade gifts may be cheap to make, but if you take some care with the presentation they can look awesome and be very gratefully received.

4. Agree with friends and family on the amount you will spend on individual gifts.

In the current financial climate, there is no shame in budgeting to ensure that you are in control of your finances. Some family and friends may even be stressing as much as you are and discussing how much will be spent on individual gifts can provide some much needed relief. In some families, individual’s names are placed in a hat and picked at random, so you are only obliged to buy a present for the person whose name you pull from the hat. Obviously this could only work for the adults or older children, but it is definitely a way to save money at Christmas, especially if you have a large family.

5. Look for deals

There are always some amazing deals out there which could help to stretch your pennies. High street retailers such as Boots often have a 3 for the price of 2 deal at Christmas time. Take advantage of these deals, but to ensure you get the best out of the deal, make sure you buy items with the same monetary value. Argos also normally have a deal on children’s toys at Christmas time, 2 for £15 or 2 for £30 on the more expensive toys. Compare the prices of items you wish to buy on comparison websites to get the most from your money. The shops you think are the cheapest for particular items may not be. It is worth checking this out.

6. Be honest

Don’t be afraid to let family members know you are having financial difficulties and therefore you are limited as to presents you are able to buy this Christmas. They will support and respect you for that. There is no shame in admitting that you are having to be careful with your personal finances.

7. Look for children’s gifts under £5

There are some great deals to be found for children, for under £5 which might be a good idea if you have many nieces and nephews. It is the spirit in which the gift is given, not the monetary value of the gift that is important.

8. Be creative

Instead of buying the usual Christmas presents for the adults this Christmas, play a game. Each person in the family buys one gift worth either £10 or £20. It can then be wrapped and placed under the tree. On Christmas Day, everyone picks a random number out of a hat, the person with the number 1 collects a present, opens it and keeps it. The person with the number 2 then collects a present and opens it and if he/she likes the present number 1 opened, they swap the present. The game then continues in the same vein and at the end, the person with the number 1 gets to choose from all the gifts. You can then insert a rule that a gift is only allowed to change hands twice.